New horizons for Jadroplov as the EC grants help.
As Morski writes on the 4th of May, 2018, the European Commission announced on Wednesday that Croatia’s plan for the restructuring of the Jadroplov shipping company is in accordance with European Union rules on state aid, and that this company was granted funds in the amount of 105.6 million kuna, as has been reported from the Ministry of Maritime Affairs, Transport and Infrastructure, headed by Oleg Butkovic.
With this cash, the state seeks to ensure the re-establishment of long-term sustainability for Jadroplov through the implementation of the restructuring plan for the period from 2015 to 2019, which was confirmed by the European Commission itself yesterday.
The main objective of the restructuring plan is, as stated, to achieve the long-term sustainability of Jadroplov with minimal intervention from the Republic of Croatia as the majority owner, with the aim of reducing operating costs, focusing on core business, and alleviating the considerable financial pressure arising from concerningly the high indebtedness of the company.
The restructuring plan foresees Jadroplov keeping six existing ships under the Croatian flag, with Croatian seafarers and trainees, and continuing to pay strict attention to the level of both costs and competitiveness of the company on the world market in regard to bulk cargo shipping.
Jadroplov will participate in restructuring costs with significant contributions of its own, particularly by securing private-sector financing and the sales of goods.
